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In its first earnings report since receiving federal approval for its megamerger with Aetna, CVS posted net revenues of $47.3 billion, up 2.4% year-over-year.

CVS Health reported another strong round of earnings for Q3 Tuesday morning, and stated that the company expects the merger with Aetna to close before Thanksgiving.

Net revenues totalled $47.3 billion for Q3, up from $46.7 billion in Q2 and 2.4% better than revenues posted this time last year. Adjusted earnings per share (EPS) rose to $1.73, up from an EPS of $1.50 in Q3 2017.

CVS also reported a net income increase of $105 million in Q3, up 8.2% year-over-year, which factored into an improved guidance for the end of the year. The company now expects cash flow from operations of nearly $9 billion with free cash flow of $7 billion to round out 2018.

While the financial statistics CVS reported were impressive, one of the most significant aspects of Tuesday's earnings report was that the company announced that it expects to close on its merger with Aetna by Thanksgiving. After receiving approval from the Department of Justice in early October, the two potential partners also have garnered approval from 23 of 28 states.

C-SUITE PERSPECTIVE:

"Given CVS Health’s performance year-to-date and our confidence in our expectations for the remainder of this year, we are confirming our stand-alone consolidated operating profit, adjusted EPS and free cash flow guidance for 2018," Larry Merlo, CEO of CVS Health, said in a statement. "While CVS and Aetna remain separate companies today, the performance of both companies highlights the very solid financial foundation on which we’ll build our revolutionary new model that will transform the health care experience for consumers and, in the process, deliver substantial value for our shareholders."